tenant of sro owns 20 units building and refuse to take settlement money

Does an sro tenant loose his rights to stay in an sro if he is the owner of a 30 units building and maybe other builidings??  We’re buying a house in Prospect Heights with only one guy left in who seem not to want to take 65k buyout. What could our lawyer do?

hillel

in Agents and Brokers 13 years and 1 month ago

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Townie | 13 years and 1 month ago

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What’s the cost of a studio co-op in PP these days?   $230,000?

Townie | 13 years and 1 month ago

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I worked for guys who owned SRO’s in Harlem.   They rented the entire building to “non-profit” firms who operated the SRO, maintained the building, managed the tenants, paperwork, city inspections, everything.  I remember they made a nice profit.

cupolacoffee | 13 years and 1 month ago

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Really? You’re buying an SRO and you’re using an attorney who can’t answer this question? Really?!*@^!?

eman134 | 13 years and 1 month ago

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you will have to pay him a few hundred thousand to leave

shahnandersen

in Agents and Brokers 13 years and 1 month ago

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If the building was delivered vacant or if this tenant had no rights, the asking price would be a lot higher.  You get what you pay for.